The certification confirms that the quality management system of Platinum Credit Ltd has been assessed and found to confirm to the requirement of ISO 9001:2015 for the provision of individual loans like civil servant loans, private sector loans, SME loans, log book financing and other financial services on non-deposit-taking credit.
While marking this milestone, the managing director of Platinum Credit, Albert Abaasa said that the ISO certification has come after a lot of work and although they have been able to get it, the biggest job is maintaining it. He said they are going to work harder so as to keep their processes and management systems at the level the certification need them to be.
“This certification reinforces our customer focus to deliver cash within 24 hours and relentless efforts on developing industry-leading products and services measured against regional and global benchmarks of industry excellence. This means that whatever we do, we will be following international standards that respect the customer and do not take advantage of them,” he said.
Patricia Bageine Ejalu the deputy executive director standards at UNBS, said that the ISO: 9001 certification is going to be instrumental in helping Platinum Credit identify business problems and solve them before they cause major harm to the institution and the clients and also prevent those problems from happening.
“This ISO certification is a standard that gives you guidance to make sure that your management system is in order. It looks at every stage of management from inputs, human resource, finances, ICT systems, procurement and everything that has an impact on the services being offered. This certification is, therefore, going to give Platinum Credit an opportunity to review themselves and make sure that every stage of their process is under control,” Ejalu said.
Edith Tusuubira, the executive director of Uganda Microfinance Regulatory Authority (UMRA), said that this is a great milestone for not only Platinum Credit but also for all microfinance institutions in the country and, therefore, called upon others to comply with internationally acceptable standards, so as to expand their customer base both locally and worldwide.
“The regulations under UMRA require that we promote standards, and ISO certification is a good qualification which other microfinance institutions should strive to get. This is also a great milestone for us as the regulators because most of the financial institutions that we are regulating occupy 76 per cent of the entire Uganda financial sector which is in the tier-4 category of financial institutions,” Tusuubira added.
jjingoernest1@gmail.com
